Who orchestrates the media?

[oracleslave]

I reckon it is Russians plotting the downfall of the USA whilst riding on large comets.

Ah, Nicky G where you been?

[Xenophon]

Ah, Nicky G where you been?

Putting heads in vices, probably...

[dang65]

In the last few days have noticed a sudden upsurge in positive "boom" stories. What a load of bollux - nothing's changed except for a small fall in oil prices. Not enough to change anything.

But nothing much had changed in the first place to cause all the "doom" stories.

[sasguru]

But nothing much had changed in the first place to cause all the "doom" stories.

You mean the falling house prices, plunging mortgage approvals and massive price rises in fuel of all types?

[DimPrawn]

You mean the falling house prices, plunging mortgage approvals and massive price rises in fuel of all types?

I think he means the big jump in unemployment, the bailing out of Northern Rock, the collapse of the US Dollar, the massive rise in the price of Gold and other commodities, the huge jump in inflation and the near collapse of all banking stock.

Apart from that, nothing has changed.

[zathras]

Who orchestrates the media?

Rupert Bl**dy Murdoch! (well in the case of the Sun and the Times he has one of the most, if not the popular broadsheets and red top)

[dang65]

You mean the falling house prices, plunging mortgage approvals and massive price rises in fuel of all types?

But all of those things are just the financial people mucking about. Oil and food prices are going up because of speculation, not because their availability or supply has actually changed. The mortgage approvals drop is due to the banks not lending to each other any more, not because they've actually got less money. And house prices are just made up anyway. The ones that sold may have been cheaper because those owners were desperate to sell up or something, but there are far fewer sales going on because buyers are hanging on to see what happens. So it's not as if property has actually lost its value, just that the market is dead at the moment.

As they've demonstrated repeatedly in the media, you can do all sorts with the same figures to make everything sound great, or everything sound terrible. I don't see any signs of mass panic round here though. Most people have plenty of ways to cut back on their extravagant spending before they start to actually "suffer".

I'm not being flippantly optimistic here; just saying that the news stories do about turns with what are essentially the same facts, give or take a few dollars a barrel or whatever.

[sasguru]

But all of those things are just the financial people mucking about. Oil and food prices are going up because of speculation, not because their availability or supply has actually changed. The mortgage approvals drop is due to the banks not lending to each other any more, not because they've actually got less money. And house prices are just made up anyway. The ones that sold may have been cheaper because those owners were desperate to sell up or something, but there are far fewer sales going on because buyers are hanging on to see what happens. So it's not as if property has actually lost its value, just that the market is dead at the moment.

As they've demonstrated repeatedly in the media, you can do all sorts with the same figures to make everything sound great, or everything sound terrible. I don't see any signs of mass panic round here though. Most people have plenty of ways to cut back on their extravagant spending before they start to actually "suffer".

I'm not being flippantly optimistic here; just saying that the news stories do about turns with what are essentially the same facts, give or take a few dollars a barrel or whatever.

Financial people mucking about? Exactly - but the consequences are all too real. And you don't see any signs of mass panic because it's early days yet. Wait till the unemployment figures start rising.
What people don't realise is that they've been living in a massive financial bubble and it's just been pricked.

[TheBigYinJames]

Financial people mucking about? Exactly - but the consequences are all too real. And you don't see any signs of mass panic because it's early days yet. Wait till the unemployment figures start rising.

It's been 'early days' since Northern Rock. That was a year ago.

The contractor beside me who left a month ago got another one within a week. I'm still getting several calls a week and I don't even have my CV online anywhere. The shops are rammed, have yuo seen the travel agents? Not a seat to be had, standing room only. I still can't get a Nintendo Wii Fit in the shops for love nor money, they sell out in minutes. Several huge residential construction projects in my home town are still merrily continuing. Houses are sill being sold in my street.

Doomed? I wish someone would tell me where, I can't see it.

[sasguru]

It's been 'early days' since Northern Rock. That was a year ago.

The contractor beside me who left a month ago got another one within a week. I'm still getting several calls a week and I don't even have my CV online anywhere. The shops are rammed, have yuo seen the travel agents? Not a seat to be had, standing room only. I still can't get a Nintendo Wii Fit in the shops for love nor money, they sell out in minutes. Several huge residential construction projects in my home town are still merrily continuing. Houses are sill being sold in my street.

Doomed? I wish someone would tell me where, I can't see it.

"Men, it has been well said, think in herds; it will be seen that they go mad in herds, while they only recover their senses slowly, and one by one!"
Charles Mackay, 1841